Which of the following line items will appear on the income statement of a merchandiser but not of a service company?
A) Salaries Expense
B) Depreciation Expense
C) Cost of Goods Sold
D) Supplies Inventory
C
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In which of the following cases should the auditor's report on compliance not include a statement that nothing came to the auditor's attention that caused the auditor to believe that the entity failed to comply with specified aspects of the contractual agreements or regulatory requirements?
a. When the auditor has not identified any instances of noncompliance. b. When the auditor has expressed an unmodified or qualified opinion on the financial statements to which the applicable covenants of such contractual agreements or regulatory requirements relate. c. When the applicable covenants or regulatory requirements relate to accounting matters that have been subjected to the audit procedures applied in the audit of financial statements. d. When the auditor needs to obtain further evidence to corroborate audit evidence acquired from management and the accounting records.
You will be presenting a proposal about eliminating one of your company's product lines, and you expect your audience to be unsupportive of your ideas. You should ________
A) be calm and controlled and speak evenly and slowly B) attempt to diffuse the situation with humor C) avoid sharing data and expert opinions D) be dynamic and entertaining and move around, using large gestures
An increase in accounts receivable from last year's balance sheet to this year's balance sheet
indicates that the business experienced a cash outflow. Indicate whether the statement is true or false
Milton's Auto Service is a small auto maintenance and repair shop located in a small town in a garage behind Milton's house. Milton doesn't charge as much as auto dealerships so he has a steady stream of local customers. Which of the following best describes Milton's strategy?
A. innovation B. strategic alliances C. cost-based D. differentiation